New FDI proposals for Rs 707 crore cleared

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Nov 3, 2012: Indian Govt has cleared around 12 FDI proposals in retail sector worth Rs 706.66 crore. These proposals include UK’s footwear chain Pavers England, America’s clothing retailer Brooks Brothers and Larsen & Toubro for foreign equity in group company in defence. In the mean time Foreign Investment Promotion Board has deferred 19 proposals and rejected 5.